Xstrata Copper is reviewing all of its operations in north Queensland due to the Australian federal government's proposed tax on the resources sector.
The company has announced its exploration programme in the Mount Isa and Cloncurry districts has been suspended due to the federal government's plans for a 40% tax on mining profits. The federal government is looking to raise $A9 billion per year from it.
Chief operating officer Steve de Kruijff says Xstrata Copper's exploration programmes in the region were all going ahead until the Government announced its new tax.
The ABC reports he says the company needs certainty on the proposed tax requirements.
